Toncoin (TON) Price Prediction After Pavel Durov's Confession According to Crypto Academy

Bittime - Recently, the confession of Pavel Durov, the founder of Telegram, regarding the possible threat of prison influenced the price of Toncoin (TON). 

Currently, the price of TON has fallen to $5.62 as a result of the news. Crypto Academy projects that there is potential for further price movement to be aware of. 

This article will discuss TON price predictions following the latest news and provide guidance on investment strategies that may be appropriate.

Toncoin (TON) Price Today

Summer: Bittime

Toncoin (TON) price today is around $5.62. This decline occurred after the latest news regarding Pavel Durov facing the possibility of prison. 

The uncertainty surrounding Durov's legal situation has caused volatility in the market, with the price of TON experiencing a significant decline.

Read also: Toncoin (TON): Everything You Need to Know

The Effect of Pavel Durov's Recognition on the Price of Toncoin (TON)

Pavel Durov, who is also the main developer behind Toncoin, was recently involved in a legal situation that could impact the market. 

The possible threat of imprisonment against Durov has caused uncertainty in the market, which was reflected in the drop in the price of TON to as low as $5.62. 

This news has triggered a significant market reaction, with investors likely to sell to reduce risk.

Toncoin (TON) Price Technical Analysis

Technically, TON price shows the potential to experience a retest to the $5 level again. The $5 price area is a golden pocket, namely the Fibonacci retracement level which is often considered an important support area in technical analysis. 

A retest to this level could provide an attractive buying opportunity for investors if the price bounces off this level.

However, keep in mind that the crypto market is very volatile and influenced by various external factors. 

Although TON price may experience a further decline to the $5 level, the final decision regarding Pavel Durov's legal situation is still unknown. This adds uncertainty regarding the direction of future price movements.

Investment Strategy for Toncoin (TON)

For investors considering increasing exposure to Toncoin, now is a good time to exercise caution. 

Given the uncertainty regarding Pavel Durov's legal decision, it is best to wait before taking additional positions in TON. 

Markets may experience further volatility, and upcoming legal decisions could significantly impact market sentiment.

If Pavel Durov is released from legal threats, TON price may experience a rebound. However, this does not necessarily happen instantly. 

Therefore, the best strategy at this time is to wait and monitor further news developments before making additional investment decisions.

Conclusion

Toncoin (TON) price prediction suggests that the price may experience a retest to the $5 level, which is an important golden pocket area. 

The current price drop at $5.62 was influenced by the uncertainty surrounding Pavel Durov's legal situation. For investors considering increasing exposure in TON, it is advisable to wait until there is further clarity regarding Durov's legal ruling.

Keeping up with the latest news and technical analysis will help in making better investment decisions and reducing risks in this volatile market.

How to Buy Crypto on Bittime

You can buy and sell crypto assets easily and safely via Bittime. Bittime is one of Indonesia's best crypto applications, officially registered with Bappebti. 

To be able to buy crypto assets on Bittime, make sure you have registered and completed identity verification. Apart from that, also ensure you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application. Study Complete Guide How to Buy Crypto on Bittime. 

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